A Business at a Glance
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CITIZENS HOLDING CO /MS/
CIZN
$56M
Mkt Cap
$10.00
+1.21%
CITIZENS HOLDING CO /MS/ (CIZN) has a current P/E ratio of 30.3, compared to its historical median P/E of 11.6. The stock is currently considered Expensive based on its historical valuation range.
CITIZENS HOLDING CO /MS/ (CIZN) has a 5-year average return on invested capital (ROIC) of 6.4%. This is below average and may indicate limited pricing power.
CITIZENS HOLDING CO /MS/ (CIZN) has a market capitalization of $56M. It is classified as a small-cap stock.
Yes, CITIZENS HOLDING CO /MS/ (CIZN) pays a dividend with a trailing twelve-month yield of 7.19%.
Based on historical P/E analysis, CITIZENS HOLDING CO /MS/ (CIZN) appears expensive. The current P/E of 30.3 is 162% above its historical median of 11.6. The estimated fair value CAGR (P/E method) is -19.1%.
CITIZENS HOLDING CO /MS/ (CIZN) operates in the State Commercial Banks industry, within the Financials sector.
CITIZENS HOLDING CO /MS/ (CIZN) reported annual revenue of $58 million in its most recent fiscal year, based on SEC EDGAR filings.
The Company is a one-bank holding company incorporated under the laws of the State of Mississippi on February 16, 1982. The Company is the sole shareholder of the “Bank. The Company does not have any subsidiaries other than the Bank. The “Company,” “we,” or “our,” as used herein, includes the Bank, unless the context otherwise requires. All dollar amounts appearing in this report are in thousands unless otherwise noted or the context otherwise dictates. The Bank was opened on February 8, 1908 as The First National Bank of Philadelphia. In 1917, the Bank surrendered its national charter and obtained a state charter, at which time the name of the Bank was changed to The Citizens Bank of Philadelphia, Mississippi. At December 31, 2023, the Bank was the largest bank headquartered in Neshoba County, Mississippi, with total assets of $1,405,202 and total deposits of $1,170,311.
| Metric | TTM | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|
| Revenue | 58M | 58M | 51M | 51M | 51M | 45M |
| Net Income | 1.9M | 1.9M | 9.6M | 7.5M | 6.9M | 5.9M |
| EPS | $0.33 | $0.33 | $1.72 | $1.34 | $1.24 | $1.17 |
| Free Cash Flow | 4.8M | 4.8M | 11M | 15M | 12M | 12M |
| ROIC | 1.2% | 3.1% | 10.6% | 6.2% | 6.0% | 6.0% |
| Gross Margin | 65.4% | 65.4% | 90.3% | 87.3% | 82.5% | 77.2% |
| Debt/Equity | 4.12 | 4.12 | 3.73 | 1.23 | 1.85 | 9.60 |
| Dividends/Share | $0.72 | $0.72 | $0.96 | $0.96 | $0.96 | $0.96 |
| Operating Income | 1.8M | 1.8M | 12M | 3.0M | 2.7M | 2.0M |
| Operating Margin | 3.1% | 3.1% | 22.7% | 6.0% | 5.2% | 4.5% |
| ROE | 4.3% | 4.5% | 13.3% | 6.6% | 6.0% | 6.0% |
| Shares Outstanding | 6M | 6M | 6M | 6M | 6M | 5M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 42M | 40M | 40M | 39M | 38M | 39M | 40M | 45M | 51M | 51M | 51M | 58M | 58M |
| Gross Margin | 82.6% | 84.3% | 90.0% | 90.8% | 91.6% | 90.0% | 88.0% | 77.2% | 82.5% | 87.3% | 90.3% | 65.4% | 65.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 14M | 13M | 13M | 13M | 14M | 15M | 15M | 15M | 17M | 18M | 18M | 19M | 19M |
| EBIT | 1.4M | 1.6M | 2.1M | 2.2M | 1.3M | 1.3M | 1.1M | 2.0M | 2.7M | 3.0M | 12M | 1.8M | 1.8M |
| Op. Margin | 3.3% | 3.9% | 5.4% | 5.5% | 3.6% | 3.4% | 2.9% | 4.5% | 5.2% | 6.0% | 22.7% | 3.1% | 3.1% |
| Net Income | 6.8M | 7.1M | 7.4M | 7.6M | 6.7M | 3.7M | 6.7M | 5.9M | 6.9M | 7.5M | 9.6M | 1.9M | 1.9M |
| Net Margin | 16.2% | 17.9% | 18.8% | 19.3% | 17.8% | 9.5% | 16.7% | 13.1% | 13.6% | 14.8% | 19.0% | 3.2% | 3.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 74K | -13K | 322K | 279K | 279K |
| Returns on Capital | |||||||||||||
| ROIC | 7.8% | 9.2% | 10.1% | 9.0% | 7.9% | 4.3% | 7.7% | 6.0% | 6.0% | 6.2% | 10.6% | 3.1% | 1.2% |
| ROE | 7.8% | 9.2% | 10.1% | 9.0% | 7.9% | 4.3% | 7.7% | 6.0% | 6.0% | 6.6% | 13.3% | 4.5% | 4.3% |
| ROA | 0.8% | 0.8% | 0.8% | 0.8% | 0.7% | 0.4% | 0.7% | 0.5% | 0.5% | 0.5% | 0.7% | 0.1% | 0.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 11M | 11M | 9.7M | 10M | 10M | 11M | 12M | 13M | 14M | 17M | 14M | 5.5M | 5.5M |
| Free Cash Flow | 11M | 11M | 7.9M | 9.9M | 9.1M | 7.7M | 12M | 12M | 12M | 15M | 11M | 4.8M | 4.8M |
| Owner Earnings | 9.8M | 10M | 8.4M | 9.2M | 8.9M | 9.4M | 11M | 12M | 13M | 16M | 12M | 3.9M | 3.9M |
| CapEx | 296K | 339K | 1.8M | 456K | 989K | 2.9M | 346K | 1.0M | 2.0M | 2.6M | 2.6M | 718K | 718K |
| Maint. CapEx | 1.1M | 1.1M | 1.2M | 1.0M | 981K | 1.0M | 937K | 899K | 1.1M | 1.2M | 1.3M | 1.4M | 1.4M |
| Growth CapEx | 0 | 0 | 617K | 0 | 8K | 1.9M | 0 | 143K | 898K | 1.4M | 1.4M | 0 | 0 |
| D&A | 1.1M | 1.1M | 1.2M | 1.0M | 981K | 1.0M | 937K | 899K | 1.1M | 1.2M | 1.3M | 1.4M | 1.4M |
| CapEx/OCF | 2.7% | 3.0% | 18.7% | 4.4% | 9.8% | 27.4% | 2.8% | 8.7% | 14.4% | 14.9% | 19.2% | 13.0% | 13.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 4.3M | 4.3M | 4.3M | 4.5M | 4.7M | 4.7M | 4.7M | 4.9M | 5.4M | 5.4M | 5.4M | 4.0M | 4.0M |
| Dividend Yield | 8.7% | 8.5% | 8.2% | 7.7% | 6.6% | 5.9% | 6.2% | 6.3% | 5.9% | 6.4% | 6.8% | 6.8% | 7.2% |
| Share Buybacks | 0 | 0 | 0 | 390K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 120K | 0 | 115K | 117K | 186K | 211K | 170K | 163K | 167K | 161K | 157K | 138K | 138K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -425M | -538M | -5.1M | -68M | 110M |
| Cash & Equiv. | 22M | 16M | 22M | 15M | 22M | 18M | 21M | 54M | -32M | 37M | -51M | 66M | 66M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 18M | 18M | 18M | 18M |
| Debt/Equity | 8.91 | 12.18 | 10.25 | 10.26 | 11.05 | 10.23 | 10.43 | 9.60 | 1.85 | 1.23 | 3.73 | 4.12 | 4.12 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1 |
| Equity | 89M | 66M | 82M | 86M | 85M | 88M | 84M | 113M | 120M | 106M | 39M | 43M | 43M |
| Total Assets | 881M | 873M | 921M | 974M | 1.0B | 993M | 959M | 1.2B | 1.5B | 1.4B | 1.3B | 1.4B | 1.4B |
| Total Liabilities | 792M | 807M | 839M | 887M | 940M | 905M | 875M | 1.1B | 1.3B | 1.3B | 1.3B | 1.4B | 1.4B |
| Intangibles | 3.1M | 3.1M | 3.1M | N/A | N/A | N/A | N/A | 739K | 630K | 521K | 412K | 301K | 301K |
| Retained Earnings | 80M | 83M | 86M | 89M | 91M | 92M | 94M | 95M | 96M | 98M | 103M | 99M | 99M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.39 | 1.47 | 1.53 | 1.56 | 1.38 | 0.76 | 1.36 | 1.17 | 1.24 | 1.34 | 1.72 | 0.33 | 0.33 |
| Owner EPS | 2.01 | 2.07 | 1.72 | 1.90 | 1.83 | 1.93 | 2.25 | 2.47 | 2.28 | 2.89 | 2.20 | 0.70 | 0.70 |
| Book Value | 18.21 | 13.62 | 16.81 | 17.77 | 17.42 | 18.15 | 17.09 | 22.36 | 21.39 | 18.94 | 6.98 | 7.61 | 7.61 |
| Cash Flow/Share | 2.27 | 2.30 | 1.99 | 2.14 | 2.06 | 2.18 | 2.48 | 2.68 | 2.51 | 3.13 | 2.46 | 0.98 | 0.59 |
| Dividends/Share | 0.88 | 0.88 | 0.89 | 0.93 | 0.93 | 0.96 | 0.96 | 0.96 | 0.96 | 0.96 | 0.96 | 0.72 | 0.72 |
| Shares Out. | 4.9M | 4.9M | 4.9M | 4.9M | 4.9M | 4.9M | 4.9M | 5.0M | 5.6M | 5.6M | 5.6M | 5.6M | 5.6M |
| Valuation | |||||||||||||
| P/E Ratio | 7.1 | 7.0 | 7.3 | 8.8 | 12.2 | 20.7 | 10.5 | 14.0 | 12.6 | 10.9 | 6.4 | 22.0 | 30.3 |
| P/FCF | 4.5 | 4.6 | 6.9 | 6.7 | 9.1 | 9.9 | 5.9 | 6.6 | 7.3 | 5.5 | 5.5 | 8.5 | 11.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 26.3 | N/A | 9.8 | 4.9 | 93.5 |
| Price/Book | 0.5 | 0.8 | 0.7 | 0.8 | 1.0 | 0.9 | 0.8 | 0.7 | 0.7 | 0.8 | 1.6 | 1.0 | 1.3 |
| Price/Sales | 1.4 | 1.4 | 1.5 | 1.6 | 2.0 | 2.2 | 2.1 | 2.2 | 2.1 | 1.8 | 1.7 | 1.5 | 1.0 |
| FCF Yield | 22.3% | 21.8% | 14.5% | 14.9% | 11.0% | 10.1% | 16.9% | 15.1% | 13.7% | 18.3% | 18.1% | 11.8% | 8.6% |
| Market Cap | 48M | 50M | 54M | 67M | 82M | 77M | 70M | 83M | 88M | 82M | 61M | 41M | 56M |
| Avg. Price | 10.03 | 10.31 | 10.92 | 12.11 | 14.49 | 16.20 | 15.54 | 15.25 | 16.29 | 15.02 | 14.22 | 10.51 | 10.00 |
| Year-End Price | 9.90 | 10.27 | 11.17 | 13.68 | 16.86 | 15.73 | 14.28 | 16.36 | 15.65 | 14.59 | 10.95 | 7.26 | 10.00 |
CITIZENS HOLDING CO /MS/ passes 3 of 9 quality checks, indicating weak fundamentals.
CITIZENS HOLDING CO /MS/ trades at 30.3x trailing earnings, compared to its 15-year median P/E of 11.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 11.7x vs a median of 6.8x. The company's 5-year average ROIC is 6.4% with a gross margin of 80.5%. Total shareholder yield (dividends) is 7.2%. At current prices, the estimated annualized return to fair value is -16.3%.
CITIZENS HOLDING CO /MS/ (CIZN) has a net profit margin of 3.2%. This is a modest margin.
CITIZENS HOLDING CO /MS/ (CIZN) generated $5 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CITIZENS HOLDING CO /MS/ (CIZN) has a debt-to-equity ratio of 4.12. This indicates higher leverage, which may increase financial risk.
CITIZENS HOLDING CO /MS/ (CIZN) reported earnings per share (EPS) of $0.33 in its most recent fiscal year.
CITIZENS HOLDING CO /MS/ (CIZN) has a return on equity (ROE) of 4.5%. This indicates moderate shareholder returns.
CITIZENS HOLDING CO /MS/ (CIZN) has a 5-year average gross margin of 80.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for CITIZENS HOLDING CO /MS/ (CIZN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CITIZENS HOLDING CO /MS/ (CIZN) has a book value per share of $7.61, based on its most recent annual SEC filing.
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